Timeshares vs. Hotels
If you and your family own a timeshare, can afford the associated
fees, and love the destination, then maybe you made the right choice.
However, if these fees have become insurmountable and the destination is
getting stale, this blog might prove beneficial. I’m going to take a
moment to compare the costs and benefits of hotel travel as compared
with timeshares.
Timeshares are a luxury item that most people simply can’t afford.
Ignoring, for a moment, the staggering special assessments and
maintenance fees, even the fundamental cost of buying a timeshare is
just too much for the average family to manage. Unfortunately, these
fees can’t be ignored, and they often rise to more than $1,000 per year
for timeshare owners. So when typical people want to take their family
on a vacation, they do it the old fashioned way – by spending their time
at a hotel. This method may not have the sexy glitz and glamour of
timeshare ownership, but what these trips lack in water cooler status,
they make up for in affordability and the freedom to choose a new
destination every year.
Destination Freedom
One of the major drawbacks of timeshares is that, by signing a
contract locked in to perpetuity (i.e. the contract is eternal and will
be passed down to your next of kin), you’re committing to an annual
vacation to the same location every year for the rest of your life. In
high school, I went to Clearwater Beach, Florida two years in a row for
Spring Break. I had a great experience on both occasions, but I soon
learned that it’s easy to get bored with a vacation destination. When my
sister moved to that area a few years after I graduated, it just wasn’t
the same. The beaches were still beautiful, the sun still shined
brightly, and the jet skiing was still a riot, but that flair was
somehow lacking.
It’s true, there’s nothing quite like the excitement of an entirely
new, fresh experience, but, with repeated use that excitement can become
ordinary very quickly. However, when you’re able to choose a new
vacation destination every year, your trip will always yield new and
exhilarating adventures! Most timeshares don’t afford the owner the
opportunity to explore different locales, but by visiting hotels, you
open up a world of travel possibilities.
Oh, the Financials
It’s time for everyone’s favorite subject: math! I’ll try not to bore
you with the figures, but please bear with me for a moment. Let’s
remain conservative and say that you purchased your timeshare for
$20,000. If you’re planning on using your timeshare for one for the next
30 years, that works out to roughly $670 per year. This works out to be
roughly the same amount that most families of four would spend to
reserve a mid-range hotel in a trendy vacation spot. But we left out the
maintenance fees. Even if we kept these numbers relatively low, most
timeshare owners would still have to tack on an extra $500 annually. Put
together, these figures work out to $1,170 that would come out of your
bank account every year.
For the sake of objective comparison, I did a little travel research
on priceline.com. I entered in a six-night stay at the Westin in Fort
Lauderdale, Florida for one of the busiest times of year – the end of
March, which, traditionally, marks the Spring Break period for students.
I found accommodations for $136 per night, which, when multiplied by
the six nights that most people would spend during this time, the number
comes out to $816; that’s more than $450 less than the annual cost of
timeshare ownership!
To be fair, the average hotel room can’t compete with the fancy
amenities that many timeshares offer, but for the family that prefers to
spend their vacation actually enjoying the sites and activities of a
new place, the money saved could easily be used for several big-ticket
activities such as ski-lift tickets or a trip to an amusement park. Not
only that, but there would probably still be money left over for a nice
meal.
In the end, vacation options will vary from person to person. The
most important thing is getting the most enjoyment out of your trip for
the least amount of money. Some people feel this is achieved by visiting
their timeshare, while others prefer to scope out new places every year
and stay in a hotel. If you already own a timeshare, but would rather
save money and travel to new destinations every year, perhaps it’s time
that you transfer your timeshare contract.
Newton Group Transfers
Newton Group Transfers is a timeshare disposal company with an
excellent reputation for quickly and seamlessly removing families from
their timeshare obligations. We have a fantastic track record within the
industry and we have built our name by sticking to our core values of accountability and transparency. Constructing a culture of good faith between ourselves and our clients based on our 100% Money Back Guarantee and an A- rating
from the Better Business Bureau is our ultimate goal. We are fully
equipped to remove you from your timeshare obligation, so please contact
us today at 1-877-354-4321 or visit our website at newtongrouptransfers.com for immediate relief from timeshare stress.
Thursday, December 20, 2012
Wednesday, December 12, 2012
Special Assessment Watch: The Truth in Real Time
Maintenance fees and special assessments are no joke. They add up…
fast! These fees increase annually whether you use your timeshare or
not, and they have become so expensive that many people are now
reconsidering their timeshare ownership. While some owners only pay a
couple hundred dollars per year, some families have reported paying as
much as $1500 dollars or more for the supposed “upkeep” of their
property!
These are the kind of financial figures that scare most people away from entering a timeshare contract, but people are usually unaware of just how ridiculous these fees can get until it’s too late. Unfortunately, it can be difficult to wade through the copious piles of manure in a timeshare sales pitch to determine just exactly what your annual costs will look like… until now.
Special Assessment Watch
In 2011, a new independent website was created to help track the total dollar amount of maintenance fees and special assessments collected in the United States annually. The site is called the Timeshare Special Assessment Alert Network and can be accessed at specialassessmentnetwork.com. The proposed mission statement of the site is to “notify timeshare owners of special assessments and maintenance fees in real time as we receive them.”
As of today, December 11th, the website’s “Year to Date Total Fees Collected” meter (which is continually rolling upward like an odometer) reads $46,500,000 with three weeks left to go in the year. This is a figure made all the more shocking by the fact that only a small percentage of timeshare owners have actually reported their fees to the site. The total numbers are estimated to be well over $1 billion. To put that figure in perspective, the gross domestic product of Liberia barely topped the billion dollar mark last year!
Site Features
Below the staggering national collection meter, visitors can view the most recently posted maintenance fees and special assessments for various resorts, along with where they are located. These figures are submitted by objective, unsolicited timeshare owners who are trying to spread awareness relating to the timeshare crisis. In fact, Special Assessment Watch validates the neutrality of their mission by including flattering photos of the resorts and a brief write-up describing some of the perks of each development.
The site is extremely user-friendly and offers interactive menus to help you determine what resorts are charging what fees. At the top of the page, you can scroll through a comprehensive list (there are literally hundreds!) of timeshare developments to find the resort that you’re looking for. Once you’ve discovered the resort you’re curious about, you can examine the most recent maintenance fees, special assessments, or both. Unfortunately, it doesn’t seem like many owners have been contributing their special assessment figures yet, but the site is still new and many people focus solely on their exorbitant maintenance fees.
Below this list, the visitor has the opportunity to share their annual fees with the site and a curious public. To do so, simply enter the name of your timeshare resort, and the name of the city and the state in which the resort is located. Below these informational boxes, there’s a drop-down box for you to choose whether you want to submit information regarding your maintenance fees or your special assessment fees, the amount, and the date you submitted the information.
Finally, near the bottom right corner of the homepage, visitors can quickly access the most expensive resorts in terms of special assessments and maintenance fees. Unsurprisingly, Marriot and Wyndham developments dominate the top of this list. Granted, these resorts are absolutely beautiful and are located in prime vacation locales, but the fees reported are jaw-dropping.
Finally!
From what I can tell, this is the first third-party site of its kind. Special Assessment Watch maintains an honest, objective approach to one of the more critical issues in the timeshare industry today. They do so in the hopes that the site will, “Help educate helpless” and “prevent someone from making an uneducated decision.”
Special Assessment Watch is doing potential and current timeshare owners a valuable service by making them fully aware of the current fees at hundreds of different resorts. If only the rest of the timeshare industry would follow their lead by operating with more straight-forward transparency, perhaps the current timeshare crisis wouldn’t exist. At Newton Group Transfers, we applaud their efforts to educate potential timeshare owners, and we intend to continue to follow our own core values of leadership, honesty, and integrity to inform everyone of potential alternative options.
These are the kind of financial figures that scare most people away from entering a timeshare contract, but people are usually unaware of just how ridiculous these fees can get until it’s too late. Unfortunately, it can be difficult to wade through the copious piles of manure in a timeshare sales pitch to determine just exactly what your annual costs will look like… until now.
Special Assessment Watch
In 2011, a new independent website was created to help track the total dollar amount of maintenance fees and special assessments collected in the United States annually. The site is called the Timeshare Special Assessment Alert Network and can be accessed at specialassessmentnetwork.com. The proposed mission statement of the site is to “notify timeshare owners of special assessments and maintenance fees in real time as we receive them.”
As of today, December 11th, the website’s “Year to Date Total Fees Collected” meter (which is continually rolling upward like an odometer) reads $46,500,000 with three weeks left to go in the year. This is a figure made all the more shocking by the fact that only a small percentage of timeshare owners have actually reported their fees to the site. The total numbers are estimated to be well over $1 billion. To put that figure in perspective, the gross domestic product of Liberia barely topped the billion dollar mark last year!
Site Features
Below the staggering national collection meter, visitors can view the most recently posted maintenance fees and special assessments for various resorts, along with where they are located. These figures are submitted by objective, unsolicited timeshare owners who are trying to spread awareness relating to the timeshare crisis. In fact, Special Assessment Watch validates the neutrality of their mission by including flattering photos of the resorts and a brief write-up describing some of the perks of each development.
The site is extremely user-friendly and offers interactive menus to help you determine what resorts are charging what fees. At the top of the page, you can scroll through a comprehensive list (there are literally hundreds!) of timeshare developments to find the resort that you’re looking for. Once you’ve discovered the resort you’re curious about, you can examine the most recent maintenance fees, special assessments, or both. Unfortunately, it doesn’t seem like many owners have been contributing their special assessment figures yet, but the site is still new and many people focus solely on their exorbitant maintenance fees.
Below this list, the visitor has the opportunity to share their annual fees with the site and a curious public. To do so, simply enter the name of your timeshare resort, and the name of the city and the state in which the resort is located. Below these informational boxes, there’s a drop-down box for you to choose whether you want to submit information regarding your maintenance fees or your special assessment fees, the amount, and the date you submitted the information.
Finally, near the bottom right corner of the homepage, visitors can quickly access the most expensive resorts in terms of special assessments and maintenance fees. Unsurprisingly, Marriot and Wyndham developments dominate the top of this list. Granted, these resorts are absolutely beautiful and are located in prime vacation locales, but the fees reported are jaw-dropping.
Finally!
From what I can tell, this is the first third-party site of its kind. Special Assessment Watch maintains an honest, objective approach to one of the more critical issues in the timeshare industry today. They do so in the hopes that the site will, “Help educate helpless” and “prevent someone from making an uneducated decision.”
Special Assessment Watch is doing potential and current timeshare owners a valuable service by making them fully aware of the current fees at hundreds of different resorts. If only the rest of the timeshare industry would follow their lead by operating with more straight-forward transparency, perhaps the current timeshare crisis wouldn’t exist. At Newton Group Transfers, we applaud their efforts to educate potential timeshare owners, and we intend to continue to follow our own core values of leadership, honesty, and integrity to inform everyone of potential alternative options.
Thursday, December 6, 2012
Large Travel Fees Associated with Timeshare Vacations
For some timeshare owners, the journey to their property is a short
drive away from home. For most, however, their annual vacation
destination is located quite far away. Actually, that’s usually the
whole point of going on vacation; sometimes, you just need to get away!
In this case, traveling to your timeshare requires a lengthy road trip
or flight. These costs can add up rather quickly, especially if you are
traveling with several family members. The fact is that, often times,
the travel costs associated with timeshare ownership are left out of the
equation when people consider their vacation budgets.
Air Travel
As the economy continues to struggle, and the cost of fuel progressively rises to record highs, experts predict that the price of airfare will persistently increase annually over the next 20 years. In fact, the current average price of airfare is already up nearly 10% from this same time last year. According to Ed Perkins, a blogger with smartertravel.com, “Just about everyone in the business believes that airfares are going up, generally, across the boards, and more or less permanently.” Factors for the price hikes include decreased airline capacity, labor strife, conflict in the Middle East, and recent mergers among large carriers. Unfortunately for travelers, none of these issues seem to be going away any time in the near future.
It’s not all bad, though. On the whole, flying is still a relatively cheap form of travel (in relation to rates adjusted for inflation over the last 30 years), and most airlines stay afloat by throwing in hidden costs such as large baggage fees or instituting small price increases several times throughout the course of the year. Many carriers are looking to invest in more fuel-efficient planes, but much of the technology has yet to be fully realized and the cost for research and development alone is well into the billions of dollars. The average consumer who’s grown accustomed to paying modest fees is likely in for a rude awakening in the near future.
Car Travel
The typical timeshare traveler overlooks several fees associated with car travel that can add up quickly, even if you’re flying. If you’re flying, parking your car in an airport ramp can cost as much as $100 per week. In addition, you’ll have to either rent a car or rely on taxicabs for the duration of your trip, and these costs can get out of hand quickly. For instance, I checked to see how much it would cost to rent a compact car over Christmas this year, and the overall figures well exceeded more than $100 per day with Enterprise.
If you’re driving to your vacation destination, there are obviously costs associated with fuel, oil changes, and potential car problems. While fuel prices remained relatively low over this past summer (in large part due to the political elections), most experts don’t expect that trend to continue. In fact, many economists are predicting $4 per gallon again by the end of January.
There are also the unseen costs of piling mileage onto your vehicle’s odometer. In 2011, Americans drove an average of 13,500 miles per year (this statistic includes teenage and senior drivers that typically wouldn’t be driving cross-country to a timeshare destination). A roundtrip car ride from the northern eastern seaboard to southern Florida is more than 2,500 miles. That’s almost a fifth of the miles you’ll put on your car in an entire year! Cars are meant to be driven, but packing on the miles will shorten the length of your vehicle’s life.
Just One of Many Fees
Many people are completely comfortable with paying the travel fees associated with timeshare ownership. Others, however, are beginning to see these costs as the straw breaking the proverbial camel’s back. Once these expenses are coupled with maintenance fees and special assessments, along with the headaches associated involved with scheduling your allotted time at your vacation property, the cost of owning a timeshare becomes less and less feasible.
If you’re feeling overwhelmed by your timeshare, the smartest, fastest way to remove yourself from your contract is to seek the assistance of a timeshare transfer company like Newton Group Transfers. We pride ourselves on our honest approach with our customers, and we won’t sugar coat the situation. We are fully aware of the severity of the timeshare crisis.
At Newton Group Transfers, we offer the opportunity to forge a new financial future by accepting each predicament for exactly what it is, and by working together to develop guaranteed alternative solutions. Please contact us at 1-877-354-4321, or enter your information at our website to receive a free quote today!
Air Travel
As the economy continues to struggle, and the cost of fuel progressively rises to record highs, experts predict that the price of airfare will persistently increase annually over the next 20 years. In fact, the current average price of airfare is already up nearly 10% from this same time last year. According to Ed Perkins, a blogger with smartertravel.com, “Just about everyone in the business believes that airfares are going up, generally, across the boards, and more or less permanently.” Factors for the price hikes include decreased airline capacity, labor strife, conflict in the Middle East, and recent mergers among large carriers. Unfortunately for travelers, none of these issues seem to be going away any time in the near future.
It’s not all bad, though. On the whole, flying is still a relatively cheap form of travel (in relation to rates adjusted for inflation over the last 30 years), and most airlines stay afloat by throwing in hidden costs such as large baggage fees or instituting small price increases several times throughout the course of the year. Many carriers are looking to invest in more fuel-efficient planes, but much of the technology has yet to be fully realized and the cost for research and development alone is well into the billions of dollars. The average consumer who’s grown accustomed to paying modest fees is likely in for a rude awakening in the near future.
Car Travel
The typical timeshare traveler overlooks several fees associated with car travel that can add up quickly, even if you’re flying. If you’re flying, parking your car in an airport ramp can cost as much as $100 per week. In addition, you’ll have to either rent a car or rely on taxicabs for the duration of your trip, and these costs can get out of hand quickly. For instance, I checked to see how much it would cost to rent a compact car over Christmas this year, and the overall figures well exceeded more than $100 per day with Enterprise.
If you’re driving to your vacation destination, there are obviously costs associated with fuel, oil changes, and potential car problems. While fuel prices remained relatively low over this past summer (in large part due to the political elections), most experts don’t expect that trend to continue. In fact, many economists are predicting $4 per gallon again by the end of January.
There are also the unseen costs of piling mileage onto your vehicle’s odometer. In 2011, Americans drove an average of 13,500 miles per year (this statistic includes teenage and senior drivers that typically wouldn’t be driving cross-country to a timeshare destination). A roundtrip car ride from the northern eastern seaboard to southern Florida is more than 2,500 miles. That’s almost a fifth of the miles you’ll put on your car in an entire year! Cars are meant to be driven, but packing on the miles will shorten the length of your vehicle’s life.
Just One of Many Fees
Many people are completely comfortable with paying the travel fees associated with timeshare ownership. Others, however, are beginning to see these costs as the straw breaking the proverbial camel’s back. Once these expenses are coupled with maintenance fees and special assessments, along with the headaches associated involved with scheduling your allotted time at your vacation property, the cost of owning a timeshare becomes less and less feasible.
If you’re feeling overwhelmed by your timeshare, the smartest, fastest way to remove yourself from your contract is to seek the assistance of a timeshare transfer company like Newton Group Transfers. We pride ourselves on our honest approach with our customers, and we won’t sugar coat the situation. We are fully aware of the severity of the timeshare crisis.
At Newton Group Transfers, we offer the opportunity to forge a new financial future by accepting each predicament for exactly what it is, and by working together to develop guaranteed alternative solutions. Please contact us at 1-877-354-4321, or enter your information at our website to receive a free quote today!
Wednesday, December 5, 2012
What Constitutes an Investment?
Throughout our lives, we will invest in many things. We will invest
in our family. We will invest in our friends and neighbors. We will
invest in a set of values, in political candidates, and in our favorite
baseball team. All of these investments serve to heighten the enjoyment
of our lives, while keeping us grounded and focused on what is truly
important, but there are other types of investments as well.
Financial investments provide security for the future of our families. They allow for our country to prosper globally, nationally, and locally. Without a constant state of investing, the economy would stagnate and fail. For these reasons, investing is a vital element of our nation’s framework and is built into the fabric of our financial systems.
Investments such as homes, businesses, and stocks are purchases made in which a profit is expected and the analysis shows reasonable assurance of security for both the principle and the return. These are sound investments that most Americans will engage in at some point in their lives, but not all big purchases can accurately be referred to as investments.
For instance, buying a new car is not an investment. The instant the vehicle rolls of the lot, its value depreciates significantly. Unless the car is a classic model in mint condition, there is no reasonable assurance of security for the principle or the return. This isn’t to say that there wouldn’t necessarily be an emotional investment in buying a car, but financially speaking, a car is simply a big purchase with the potential to improve the quality of life for the purchaser. There is no prospect of monetary gain attached.
A timeshare can be thought of in much the same way as the new car rolling of the lot. It’s beautiful, it’s exciting, the family loves it, and the future looks brighter from inside of it. Not only that, but a timeshare can be a symbol of status, of moving up in the world toward a more comfortable lifestyle. Unfortunately, after the initial love affair with your new property, the shiny veneer of the new timeshare begins to fade over time and the once sleek and sexy “investment” becomes just another expensive responsibility. To complete the analogy, when one considers the travel expenses, maintenance fees, special assessments, and depreciating value of the property the timeshare begins to look less like a Lamborghini and more like a lemon.
The bottom line is that a timeshare is not a typical property because it’s not an investment. At numerous sites across the internet, an interested buyer can find timeshare owners desperately trying to sell their “investment” for less than one dollar. There are two interesting elements to this phenomenon: The first, is that a timeshare owner would be so eager to rid him or herself of their property that he or she is willing to sell it for the price of a candy bar. The timeshare is so economically toxic that giving it away makes more fiscal sense than keeping it. The second element, is that despite an offer that is obviously too good to be true, occasionally a buyer will come along with no conception of the financial hell that they have voluntarily entered. This cycle will continue to repeat itself as new timeshare owners become frustrated, angry, and cynical concerning the pitfalls of timeshare ownership. Eventually, they too will be willing to practically give the property away rather than deal with the headache of timeshare ownership.
Throughout the course of ownership, the average timeshare owner will spend over $100,000 in costs related to the property. This amount is staggering considering the brief time actually spent at the property and the already significant original price tag.
If you would rather not spend your children’s college funds on a one week per year vacation destination, then maybe you should consider allowing Newton Group Transfers to provide an affordable, efficient, and guaranteed exit solution from your timeshare contract. For a nominal fee, you and your family can be free of the mounting costs associated with the property. Please contact us at 1-877-354-4321 or online at newtongrouptransfers.com to discover a new path to financial security. Who knows, maybe with the money you save, you could buy a new car…
Financial investments provide security for the future of our families. They allow for our country to prosper globally, nationally, and locally. Without a constant state of investing, the economy would stagnate and fail. For these reasons, investing is a vital element of our nation’s framework and is built into the fabric of our financial systems.
Investments such as homes, businesses, and stocks are purchases made in which a profit is expected and the analysis shows reasonable assurance of security for both the principle and the return. These are sound investments that most Americans will engage in at some point in their lives, but not all big purchases can accurately be referred to as investments.
For instance, buying a new car is not an investment. The instant the vehicle rolls of the lot, its value depreciates significantly. Unless the car is a classic model in mint condition, there is no reasonable assurance of security for the principle or the return. This isn’t to say that there wouldn’t necessarily be an emotional investment in buying a car, but financially speaking, a car is simply a big purchase with the potential to improve the quality of life for the purchaser. There is no prospect of monetary gain attached.
A timeshare can be thought of in much the same way as the new car rolling of the lot. It’s beautiful, it’s exciting, the family loves it, and the future looks brighter from inside of it. Not only that, but a timeshare can be a symbol of status, of moving up in the world toward a more comfortable lifestyle. Unfortunately, after the initial love affair with your new property, the shiny veneer of the new timeshare begins to fade over time and the once sleek and sexy “investment” becomes just another expensive responsibility. To complete the analogy, when one considers the travel expenses, maintenance fees, special assessments, and depreciating value of the property the timeshare begins to look less like a Lamborghini and more like a lemon.
The bottom line is that a timeshare is not a typical property because it’s not an investment. At numerous sites across the internet, an interested buyer can find timeshare owners desperately trying to sell their “investment” for less than one dollar. There are two interesting elements to this phenomenon: The first, is that a timeshare owner would be so eager to rid him or herself of their property that he or she is willing to sell it for the price of a candy bar. The timeshare is so economically toxic that giving it away makes more fiscal sense than keeping it. The second element, is that despite an offer that is obviously too good to be true, occasionally a buyer will come along with no conception of the financial hell that they have voluntarily entered. This cycle will continue to repeat itself as new timeshare owners become frustrated, angry, and cynical concerning the pitfalls of timeshare ownership. Eventually, they too will be willing to practically give the property away rather than deal with the headache of timeshare ownership.
Throughout the course of ownership, the average timeshare owner will spend over $100,000 in costs related to the property. This amount is staggering considering the brief time actually spent at the property and the already significant original price tag.
If you would rather not spend your children’s college funds on a one week per year vacation destination, then maybe you should consider allowing Newton Group Transfers to provide an affordable, efficient, and guaranteed exit solution from your timeshare contract. For a nominal fee, you and your family can be free of the mounting costs associated with the property. Please contact us at 1-877-354-4321 or online at newtongrouptransfers.com to discover a new path to financial security. Who knows, maybe with the money you save, you could buy a new car…
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